CFM Wealth Partners LLC Sells 2,884 Shares of NIKE, Inc. (NYSE:NKE)

CFM Wealth Partners LLC reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 39.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,348 shares of the footwear maker’s stock after selling 2,884 shares during the period. CFM Wealth Partners LLC’s holdings in NIKE were worth $329,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Garrison Point Advisors LLC lifted its holdings in shares of NIKE by 1.9% during the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock valued at $593,000 after purchasing an additional 126 shares during the last quarter. Stephens Consulting LLC grew its position in NIKE by 20.0% in the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after purchasing an additional 128 shares during the period. PSI Advisors LLC boosted its stake in shares of NIKE by 26.3% during the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after acquiring an additional 130 shares during the last quarter. Chapin Davis Inc. boosted its stake in shares of NIKE by 1.2% during the 3rd quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock worth $1,010,000 after acquiring an additional 133 shares during the last quarter. Finally, Meridian Financial Partners LLC lifted its stake in shares of NIKE by 1.6% during the 3rd quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock valued at $742,000 after buying an additional 133 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Performance

NIKE stock opened at $76.82 on Monday. The stock has a fifty day moving average price of $75.60 and a two-hundred day moving average price of $78.03. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The firm has a market capitalization of $113.62 billion, a P/E ratio of 23.71, a P/E/G ratio of 2.50 and a beta of 1.01. NIKE, Inc. has a 52-week low of $70.32 and a 52-week high of $107.43.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter last year, the business earned $1.03 earnings per share. The company’s revenue was down 7.7% compared to the same quarter last year. As a group, analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.08%. NIKE’s payout ratio is 49.38%.

Insider Activity at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NKE has been the topic of a number of research reports. Evercore ISI reduced their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. DA Davidson raised shares of NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Deutsche Bank Aktiengesellschaft cut their price target on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. Bank of America dropped their price target on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Finally, Wells Fargo & Company decreased their price objective on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. Fourteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $89.96.

NIKE Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.